AUSTRALIAN COMMERCIAL NOTES.

Press, Volume LIII, Issue 9521, 14 September 1896, Page 5

AUSTRALIAN COMMERCIAL NOTES.

-*i._ Association—By Xelegi-apli—Oopyriftht Sydney, September 18. The investment and mining stock markets are quiet. Transactions are inconsiderable. The demand for investments, however, is still far in excess of the supply. All classes continue strong, with occasional advances. Silver and gold shares were neglected throughout the week, and at the close were dull and weak. In Sydney, some time ago, a statement was published to the effect that a parcel of 400ozs of West Australia gold received at the Melbourne Mint Avas found, on assay, to ba worth only forty pounds, or 2s an ounce. An Adelaide paper supplements the confirmation of the statement by alleging that since it 3 publication further evidence has come to hand of parcels of gold from the same source which, after assay, was paid for by the Mint at the rate of 9d to 7s per ounce. The Sydney import breadstuff's aud produce markets are steady and quiet, and close without material change. The following startling statement is made by the Telegraph: —-•" We have been shown a selection of jams, pickles, and sauces, purchased apparently at reputable shops in Sydney, and said to be fair specimens of similar classes of goods extensively sold throughout the colony under fraudulent representations. The fraud consists of canningaud bottling inferior locally-made goods with bogus labels representing them as manufactured in other colonies or England. In some cases the labels are colourable imitations of those of well-known English firms ; in other cases the labels contain nothing more than a statement that the goods were manufactured in English factories, whereas, in fact, they are made in some of the poorest aud least wholesome quarters of the Sydney suburbs, and several are the vilest specimens of Chinese concoctions. Storekeepers are able to purchase these for perhaps 50 per cent, less than the bona fide English or colonial made goods cost them." The paper adds it is not suggested that goods manufactured by respectable colonial firms are in any degree inferior to the best imported, but they, in common with English workers, suffer by the market being deluged with fraudulently-labelled productions.

The success of the new Land Act has been demonstrated in the report of the first year's transactions in the shape of homestead selections by the original conditional purchasers. The homestead selections and leases cover 2,014,000 acres taken up as residential holdings, and representing the settlement of 2516 families. The average number of permanent settlers since 1861 has been 800 a year, but unfortunately, selection in bygone days was hardly synonymous with settlement under the new Act, where bona fide selection is strictly enforced. M__bou_n_, September 13.

The prospects of the harvest still hang in the balance. A few light showers during the week were insufficient to do material good. The weather bas been generally dry and warm and unfavourable to the crops. Wheat is quiet, buyers waiting weather developments and sellers having a disposition to hold. There have been small sales at 4s 9d to 4s 10|d. In general business there is no improvement. Brisbane, September 13. The insolvency statistics show that the number of adjudications last year were SO4, or fifty less than the previous year. The assets compared with the liabilities, however, were much more favourable than in 1894. During the year ninety petitions for liquidation were filed, a decrease of fifty-five compared with 1894.